JPMorgan Chase 2011 mortgage originations lowest in 10 years
JPMorgan Chase (JPM) Chief Executive Jamie Dimon told CNBC Monday his bank is originating $10 billion in mortgages per month. "Obviously, credit is still tight," he said, pointing to the sovereign and banking crises in Europe as dragging down the U.S. economic recovery. Dimon presented the mortgage origination point as a positive performance point for his bank. However, when the numbers are put together, JPMorgan Chase is likely originating its least amount of mortgages in the last 10 years. The following chart, applies the $10 billion a month estimate by Dimon over the last 12 months, or all of 2011. These numbers will be officially released later. It doesn't look to improve greatly, according to Dimon. Even though he predicts housing prices are close to bottom, 2012 will be a "year of housing rules and regulations." Write to Jacob Gaffney. Follow him on Twitter @jacobgaffney.